NEW DELHI: The tax authorities are working overtime to strengthen their IT system with advanced software that can quickly analyse cash transactions by individuals. The tax department is also planning to recruit interns to examine suspicious accounts.
To unearth black transactions post demonetisation, the Central of Direct Taxes (CBDT) plans to set up a team to electronically coordinate with officials of the Enforcement Directorate, Central Bureau of Investigation and a Special Task Force, on a real-time basis.
“The aim is not to harass the genuine tax payers, but ensure that those responsible for black money do not get away. Technology is being put to extensive use, to reduce time and sharpen focus on the target. A few measures are known and a few new measures are in test stage,” said a senior official in the Department of Revenue.
The official said that post demonetisation, the revenue department was made aware of various ingenious ways people use to hold black money.
One of them was creating multiple books of transactions. The books would be a mix of software platform and some part in paper, spread over many parts of the country and even abroad.
CBDT, in addition to its regular advanced training of its officers, has begun special information technology training with thrust on data analytics to skill officers to deal with specialised cases.
According to a statement released by CBDT, the ‘Operation Clean Money’ launched on January 31, 2017 using technology for e-verification of cash deposits made during the demonetisation period —November 9 to December 30, 2016 has entered into a decisive phase.
“The complete exercise of examining all the doubtful and non-tax compliant accounts may take more than one year, but with the help of technology and continuous enforcement action all the liable accounts will be brought to tax,” said Meenakshi J Goswami, official spokesperson, CBDT, in statement.